Do Most Financial Advisors Know What They're Talking About?

There is an established body of evidence that high fees and active management are not in the best interest of investors. Commissions are often blamed for influencing the questionable advice that many financial advisors give, but there may be a much more innocent, and scary, explanation.
This begs the question: do most financial advisors really know what they're talking about?

Have you ever received bad financial advice from someone that truly thought they were helping you? I’d love to hear about it in the comments.

Referenced in this video:
The Misguided Beliefs of Financial Advisors - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3101426
Trust and financial advice - https://advisors.vanguard.com/VGApp/iip/site/advisor/researchcommentary/article/IWE_InvResTrustAndFinancialAdvice
https://www.morningstar.ca/industry/articles/wp_CA_Target_Risk_Landscape_060116.pdf

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